Pure Biofuels management partnered with an investment fund affiliated with Pegasus Capital Advisors to purchase equity of Pure Biofuels, a distributer of bio-fuels, for an undisclosed sum.
The management buyout offers Pure Biofuels scope for terminal expansion programmes and to enhance its operations.
Pure Biofuels also secured working capital, through which it intends to increase its sales of ultra-low sulfur diesel and biodiesel products in Peru.
The company will also leverage Pegasus extensive operating partner network in the commodities and energy sector.
Pure Biofuels chief executive officer Alberto Pinto said, "Pegasus’ extensive expertise in biofuels make it an ideal partner and its financial support allows the Company to expand its terminal capacity and to provide access to the working capital necessary in order to grow our presence throughout the region."
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By GlobalDataPegasus partner Alec Machiels said, "Pegasus values its partnership with management to support the infrastructure needs of the fast growing Peruvian economy and to enable the supply of lower emission transportation fuels."
Pegasus Capital Advisors is a private equity fund manager.
